Market Pulse
US mortgage applications fall 2.7% week-on-week
US mortgage applications fell by 2. 7% week-on-week in the seven days ended 19 April, trimming the 3. 3% increase from halfway through the month to mark the sharpest weekly decline since early February, according to the Mortgage Bankers Association of America.
Hochschild reports solid production progress in first quarter
Precious metals miner Hochschild Mining said in an update on Wednesday that it extracted 45,937 ounces of gold and two million ounces of silver in its first quarter, totaling 69,758 gold equivalent ounces and 5. 8 million silver equivalent ounces.
Canaccord Genuity raises target price on Star Energy
Analysts at Canaccord Genuity raised their target price on oil and gas extraction firm Star Energy from 55. 0p to 66. 0p on Wednesday, taking account of new commodity assumptions.
Morgan Advanced Materials lays out growth plans
Morgan Advanced Materials updated the market on its financial goals on Wednesday, as it aimed to surpass organic revenue growth rates through a combination of organic expansion, strategic mergers and acquisitions, and shareholder value creation.
Jet2 summer bookings rise, warns of more competitive pricing
Package holidays provider Jet2 warned on Wednesday that pricing had become more competitive in recent months but said summer bookings had grown year-on-year.
Reckitt on track to deliver FY targets as Q1 LFL sales rise
Consumer goods giant Reckitt Benckiser said on Wednesday that it was on track to deliver its full-year revenue and profit targets as it posted a rise in first-quarter like-for-like net sales.
Gear4music trades in line, gross margins and profitability improves
Music instruments retailer Gear4music said on Wednesday that its full-year performance was in line with market expectations, having delivered both gross margin and profitability improvements.
Warpaint hails record full-year profits and sales
Warpaint - the owner of the W7 and Technic brands - hailed record full-year sales and profits on Wednesday following "significant" growth in all its geographic regions.
Asia report: Most markets rise as inflation slows in Australia
Markets across the Asia-Pacific region were in the green on Wednesday, buoyed by a continued rally on Wall Street for the second consecutive day.
Apax Global Alpha to invest €8m in IANS
Investment firm Apax Global Alpha said on Wednesday that it intends to invest roughly €8. 0m in order to acquire research and advisory services business IANS.
German business sentiment improves in April - Ifo
German business sentiment improved in April, according to a survey released on Wednesday by the Ifo Institute.
Breedon Q1 revenues drop amid macro uncertainty, wet weather
Construction material group Breedon said on Wednesday that trading had been impacted by wet weather conditions throughout the first three months of the year, leading to a fall in quarterly revenues.
GSK's endometrial cancer drug receives FDA approval
Drugmaker GSK said on Wednesday that the US Food and Drug Administration has accepted a supplemental Biologics License Application for Jemperli, its drug aimed at treating endometrial cancer.
Mitie slumps as Alchemy sells 40m shares in placing
Mitie shares slumped on Wednesday after investment fund Alchemy sold 40m shares in the outsourcing and energy services company in a placing.
PZ Cussons to sell St Tropez tanning brand, evaluate Africa options
PZ Cussons said on Wednesday that it was planning to sell the St Tropez tanning brand and is reviewing its operations in Africa, as it backed its profit outlook for 2024.
Croda backs FY profit guidance even as Q1 sales decline
Croda backed its full-year profit guidance on Wednesday despite a decline in first-quarter sales, as it hailed an "encouraging" start to the year for the consumer care business.
Wednesday newspaper round-up: UK banks, Tesla, KPMG
UK banks are leaving themselves open to “severe, unexpected losses”, by failing to properly measure how exposed they are to the $8tn private equity industry, the Bank of England has warned. In a speech on Tuesday, Rebecca Jackson, a senior executive at the central bank, said there was a “creeping sense of complacency” among lenders, who – despite a boom in loans and financing to the sector – had almost no ability to put together data “or even appreciate its crucial importance”.
US close: Stocks higher as traders thumb over Q1 earnings
Wall Street stocks closed higher on Tuesday as corporate earnings began to roll in from a number of the nation's biggest firms.
Broker tips: HSBC, Reckitt Benckisser, Watches of Switzerland
Citi said on Tuesday that it remains 'overweight' UK banks, with HSBC one of its top picks.
BoE's Huw Pill says rate cuts still some way off
The Bank of England’s chief economist, Huw Pill, said on Tuesday that rate cuts were still "some way off".